Jp Morgan Essay

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J.P Morgan —————By Chris Chen ! ! ! ! ! ! ! Part One: Bio Birth and Death date :April 17, 1837 – March 31, 1913 Describe his early life (born, family, etc.) John Pierpont Morgan was born into a distinguished New England family on April 17, 1837, in Hartford, Connecticut. One of his maternal relatives, James Pierpont (1659-1714), was a founder of Yale University; his paternal grandfather was a founder of the AETNA Insurance Company; and his father, Junius Spencer Morgan (1813-90), ran a successful Hartford dry-goods company before becoming a partner in a London-based merchant BANKING firm. After graduating from high school in Boston in 1854, Pierpont, as he was known, studied in Europe, where he learned French and German,…show more content…
Morgan & Co." upon Peabody's retirement in 1864. From 1864-72, he was a member of the firm of Dabney, Morgan, and Company. In 1871, he partnered with the Drexels of Philadelphia to form the New York firm of Drexel, Morgan & Company. At that time, Anthony J. Drexel became Pierpont's mentor at the request of Junius Morgan.After the death of Anthony Drexel, the firm was rechristened "J. P. Morgan & Company" in 1895, retaining close ties with Drexel & Company of Philadelphia; Morgan, Harjes & Company of Paris; and J.S. Morgan & Company (after 1910 Morgan, Grenfell & Company), of London. By 1900, it was one of the most powerful banking houses of the world, focused especially on reorganizations and consolidations. How he organized his business/ new inventions Morgan is not satisfied with the achievements on the railroad industry, he quickly put sights on a new target - the steel industry. To this end, he founded the Federal Steel Company, after several hard, federal steel in business lay out their own position. At this time, the US steel industry rankings, sitting first chair is still steel magnate Carnegie, Morgan came in second, third, that around the Great Lakes have been buying up
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